LTC Properties (NYSE:LTC) Director David Gruber Acquires 500 Shares

LTC Properties, Inc. (NYSE:LTC) Director David Gruber acquired 500 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $38.30 per share, with a total value of $19,150.00. Following the completion of the purchase, the director directly owned 48,070 shares in the company, valued at approximately $1,841,081. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

LTC Properties Trading Up 0.9%

Shares of NYSE LTC traded up $0.34 during trading hours on Thursday, hitting $39.03. 368,970 shares of the company traded hands, compared to its average volume of 553,903. The company’s 50 day moving average price is $39.03 and its 200 day moving average price is $38.51. LTC Properties, Inc. has a 12 month low of $33.64 and a 12 month high of $43.00. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 14.40 and a beta of 0.56.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $98.08 million during the quarter, compared to analyst estimates of $79.01 million. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The firm’s revenue for the quarter was up 63.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. On average, equities research analysts anticipate that LTC Properties, Inc. will post 2.77 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a $0.19 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. LTC Properties’s dividend payout ratio (DPR) is currently 84.13%.

Wall Street Analyst Weigh In

LTC has been the subject of several recent analyst reports. Cantor Fitzgerald reduced their price objective on shares of LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Wells Fargo & Company lifted their price target on shares of LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of LTC Properties in a research report on Wednesday, August 5th. Finally, Citigroup reiterated a “market outperform” rating on shares of LTC Properties in a report on Wednesday, June 10th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.60.

Institutional Trading of LTC Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in LTC. BlackRock Inc. purchased a new position in shares of LTC Properties during the second quarter worth $345,915,000. Vanguard Group Inc. boosted its holdings in LTC Properties by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,238,012 shares of the real estate investment trust’s stock valued at $248,843,000 after purchasing an additional 125,889 shares during the last quarter. State Street Corp boosted its holdings in LTC Properties by 2.0% in the second quarter. State Street Corp now owns 3,163,763 shares of the real estate investment trust’s stock valued at $109,498,000 after purchasing an additional 61,678 shares during the last quarter. Geode Capital Management LLC boosted its holdings in LTC Properties by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,266,992 shares of the real estate investment trust’s stock valued at $43,566,000 after purchasing an additional 12,547 shares during the last quarter. Finally, Advisors Capital Management LLC acquired a new stake in LTC Properties during the 2nd quarter worth about $31,148,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.